Futures activity

  • Another very quiet week has just passed for corn futures, with Dec-22 moving up just 1 cent per bushel week over week to $6.80 per bushel.

S&D and fundamental factors

  • Of note: Mexico reaffirmed plans to block all imports of GM yellow corn, with Ag minister Victor Suarez stating that the ban will start in 2024. Mexico is the #1 importer of U.S. corn at some 17 MMT per year, about 25 percent of U.S. annual exports—mostly GM yellow corn for feed.

Weather, macro indicators, and news

  • A second union rejected the railway deal tentatively agreed upon back in September. Negotiations will be ongoing, but a potential strike cold some as early as Nov. 19 if a new deal is not reached.

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Source: 123rf.com
Posted by: Information Services
Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.